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Incentives and Financing

The Home Performance with ENERGY STAR® program offers valuable financial incentives and low-interest financing that help make energy efficiency improvements more affordable.

The 10% cashback incentive

When you complete energy efficiency upgrades through the Home Performance with ENERGY STAR program, you will be eligible to receive 10 percent of the cost of eligible upgrades back (up to a maximum of $3,000) after the work is complete. Your contractor can help you verify that your upgrades qualify for this incentive.

Grants are available

Do you think you qualify for Assisted Home Performance with ENERGY STAR?

Learn more

For a full list of energy efficiency improvements that qualify for 10% cash back, download the eligible measures [PDF].

Assisted Home Performance with ENERGY STAR grants

Depending on household income you can qualify for a grant of up to $5,000 to cover up to 50 percent of the cost of energy efficiency upgrades. In most New York State counties, a family of four with a household income up to about $65,000 will qualify. Two- to four-unit residential buildings with additional income-eligible households can qualify for a grant of up to $10,000.

Low-interest financing

NYSERDA offers two of low-interest loans options:

Option 1: On-Bill Recovery Loans

An On-Bill Recovery Loan allows you to have your loan payments built into your utility bill. You’ll have no extra bills each month and nothing new to keep track of. Even better: your monthly payments will be calculated not to exceed the expected amount your energy upgrades will save you on energy costs. So your energy savings cover most or all of your payment.

Get details about financing

Visit the Energy Finance Solutions website to learn more about NYSERDA’s low-interest financing options and apply.


  • The current interest rate is 3.49%. Interest rates are subject to change.
  • When you rent or sell your home, you will have the option to transfer the unpaid balance of loan to the new owners or tenants. If you do choose to transfer the balance, you’ll be required to provide notice to the new owner or tenant.
  • On-Bill Recovery Financing requires a declaration to be signed and filed by NYSERDA. The declaration is not a lien on the property but is recorded to provide notice to others of the obligation under the loan note.
  • Customers of the following utilities are eligible for On-Bill Recovery Financing: Central Hudson Gas & Electric, Con Edison, Long Island Power Authority, NYSEG, National Grid (upstate NY customers only), Orange & Rockland, and Rochester Gas & Electric.

Option 2: Smart Energy Loans

Smart Energy Loans offer affordable interest rates, flexible terms and simple repayment options. Paying for a Smart Energy Loan is similar to any other conventional loan. You make monthly payments to NYSERDA’s loan servicer by check or automatic bank withdrawals.

  • The current interest rate is 3.49% if you pay via automatic bank withdrawals. Interest rates are subject to change.

How to apply for financing

To see more details and apply for either of NYSERDA’s low-interest financing options, visit the Energy Finance Solutions websiteLink opens in new window - close new window to return to this page.. Or call Energy Finance Solutions at 1-800-361-5663.

Last Updated: 04/10/2014